EUR/USD Up trend in 4 hours chart

Monday, March 13, 2017 14:17

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Trend is bullish in 4 hours time frame. Key support level is present at 1.0525 price area. In last few trading hours, EUR/USD currency pair is moving up to print a possible Double Zig Zag Elliott Wave pattern.

I expect price action to drop more to print bearish wave b pull back. As the trend is still up, we could use Wave b pull back as a buy trading chance to join an up trend. However; a bearish break down in market action below 1.0525 price level will fail bullish Elliott Wave forecast.

In such case; I would prefer to stay out of the market and re-analyze the price action in EUR/USD 4 hours chart.